ProShare Advisors LLC Acquires 4,507 Shares of Veralto Co. (NYSE:VLTO)

ProShare Advisors LLC lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,810 shares of the company’s stock after buying an additional 4,507 shares during the period. ProShare Advisors LLC’s holdings in Veralto were worth $3,647,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VLTO. Bernard Wealth Management Corp. purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $29,000. Albion Financial Group UT increased its position in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Veralto during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now owns 13,571 shares in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the transaction, the senior vice president now owns 17,434 shares in the company, valued at $1,633,042.78. This represents a 64.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,073 shares of company stock worth $6,442,018. Company insiders own 0.36% of the company’s stock.

Veralto Stock Up 0.4%

Shares of Veralto stock opened at $102.11 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a 52-week low of $83.87 and a 52-week high of $115.00. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 4.24 and a beta of 0.99. The company’s 50 day moving average price is $94.53 and its 200-day moving average price is $99.65.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto’s dividend payout ratio is currently 12.57%.

Analyst Ratings Changes

Several research firms recently commented on VLTO. Citigroup dropped their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus upped their price objective on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Royal Bank of Canada upped their price objective on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Northcoast Research started coverage on Veralto in a report on Tuesday, May 6th. They set a “buy” rating and a $110.00 target price for the company. Finally, Robert W. Baird raised their price target on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.09.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.